GSK licenses Chinese firm’s cancer drug in US$750 million deal
British pharmaceutical giant GSK has agreed to acquire a cancer drug from Chinese firm Chimagen Biosciences in a deal worth up to US$750 million, underscoring China’s emergence as a global player in biotechnology. GSK announced plans on Tuesday to buy full global rights to a “potential best-in-class” T-cell engager (TCE) from Chengdu-based Chimagen, targeting treatment for multiple myeloma, a…
British pharmaceutical giant GSK has reached a landmark US$750 million deal to acquire a promising cancer drug from Chinese biotech firm Chimagen Biosciences, signaling China's growing influence in the global biotechnology landscape. The agreement, announced on Tuesday, grants GSK exclusive global rights to Chimagen's innovative T-cell engager (TCE) technology, a novel approach to treating multiple myeloma, a common form of blood cancer.
TCE technology harnesses the power of T cells, a crucial component of the immune system, to directly target cancer cells, triggering a robust immune response. While existing TCEs have demonstrated efficacy in treating multiple myeloma, they often come with significant side effects, and Chimagen's latest candidate shows promise in reducing side effects while delivering more durable therapeutic benefits.
GSK will shoulder an undisclosed upfront payment to facilitate the development and commercialization of Chimagen's TCE assets, with additional revenue contingent on the drug's successful development and market launch. The partnership is poised to enter phase one clinical trials next year, marking a significant milestone in the global rollout of this potentially transformative cancer therapy.
This strategic acquisition underscores China's rapid ascent as a formidable force in biotech innovation, attracting the attention of major global pharmaceutical players in recent years. The total value of out-licensing agreements involving Chinese-developed innovative drugs reached US$120 billion this year, a 36% increase compared to the same period last year, as reported by Xinhua on Tuesday based on data from the Chinese National Medical Products Administration.
These deals have included multi-billion dollar partnerships, such as AstraZeneca's US$18.5 billion agreement with Chinese firm CSPC Pharmaceutical Group for weight-management drugs, and Jiangsu Hengrui's US$15.2 billion deal with Bristol Myers Squibb for a comprehensive portfolio of oncology, haematology, and immunology programs.
Written by urgent.news from South China Morning Post's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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